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Xu Wu & Chee Tao Tsui Acquire Development Site In Los Angeles For $1.55M

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SOLD
$1,550,000

California

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Development Site2,088 SF
Sold
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Property Image
SOLD

Xu Wu & Chee Tao Tsui Acquire Development Site In Los Angeles For $1.55M

658 Lillian Way

See Similar Deals
Development Site2,088 SF
Sold
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Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$742
Total Square Footage:2088 SF
Transaction Type:Sale

Located at 658 Lillian Way in Los Angeles, this development site has been sold in a recent transaction. The property spans 2,088 square feet and was sold for a total price of $1,550,000, resulting in a price per square foot of $742.

Summary of transaction details

The successful transaction was facilitated by the buyer, Xu Wu, and Chee Tao Tsui, who acquired the development site from the seller, Ann Gasbarri. The seller was represented by Martin Agnew, Ryan Serling, and Joshua Yaris from the Agnew | Serling Group at Marcus & Millichap. With a prime location in Los Angeles, this development site presents enticing opportunities for future development.

Players

Martin Agnew
118 deals$430.6M volume
BROKER

Joshua (Josh) Yaris
Marcus & Millichap
24 deals$57.6M volume(818) 212-2665
BROKER

Ryan Rothstein-Serling
Marcus & Millichap
121 deals$503.6M volume(818) 212-2725
BROKER

Details

SOLD
IMAGE: Martin Agnew, Ryan Serling & Joshua Yaris DATE: 11/02/2023 ADDRESS: 658 Lillian Way MARKET: Los Angeles ASSET TYPE: Development Site BUYER: Xu Wu & Chee Tao Tsui SELLER: Ann Gasbarri SELLER'S REP: Martin Agnew (@MartyAgnew), Ryan Serling (@Ryanrs14) & Joshua Yaris (@JoshYaris) - & Agnew | Serling Group (@AgnewSerlingGroup) - Marcus & Millichap (@MarcusMillichapEncino) SALE PRICE: $1,550,000 SF: 2,088 ~ PPSF: $742

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,506.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,347.79
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